WTO, WB and IMF

﻿WTO stand for Wording Trading Organization, which is established on January 1 1995, headquartered in Geneva. Currently there are 159 member countries. Generally, WTO provides a fair and regulated communication platform for counties to interact, negotiated in terms of trading. The main role including strengthens the multilateral trading system and contributes to the standardization of competition on the world market and promotes the healthy development of world economy.The World Bank is established in 1945. Now the World Bank Group is（WBG） consist of 5 institutions, which are IBRD, IDA, IFC, MIGA and ICSID respectively. One of the origin purposes of the establishment was for helping the recover the economy and post-war reconstruction from the World War II. Today’s world bank inherits its original purpose, the role including support countries overcome poverty, and each institutions of WBG plays unique role s in alleviate poverty and improve people’s living standards. In 2012, the WBG provided $30 billion loans and assistance for developing countries or transition countries.International Monetary Fond（IMF） was established in 1945, built on the” The international monetary fund agreement” signed in 1944, together with WBG,IMF is one of the biggest two financial institutions. The main role of IMF is developing rules and regulation for the member states between exchange rate policies, the current project payment and currency exchange and conducting supervision for the actives among the members. Moreover, the other mission of IMF is providing assistance to countries that has serious economic difficulties. One of the characteristics of IMF is that it cannot be defined as aid agency or development bank. It loans to its members to help them solve the problem of international payments and helping them to restore sustainable economic growth. However, this loan is issued under some specific policies condition, which is that borrowers must be taken suitable policies to correct...

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...of Contents
Introduction to IMF and World Bank
Differences between IMF and World Bank
Conditionalities
IMF and World Bank in Pakistan
10 reasons to abolish IMF and the World Bank
Conclusion
Way out for Pakistan
Introduction
If you have difficulty distinguishing the World Bank from the International
Monetary Fund, you are not alone. Most people have only the vaguest idea of what
these institutions do, and very few people indeed could, if pressed on the point, say
why and how they differ. Even John Maynard Keynes, a founding father of the two
institutions and considered by many the most brilliant economist of the twentieth
century, admitted at the inaugural meeting of the International Monetary Fund that
he was confused by the names: he thought the Fund should be called a bank, and
the Bank should be called a fund. Confusion has reigned ever since.
Known collectively as the Bretton Woods Institutions after the remote village in New Hampshire, U.S.A., where they were founded by the delegates of 44 nations in July 1944, the Bank and the IMF are twin intergovernmental pillars supporting the structure of the world’s economic and financial order. That there are two pillars rather than one is no accident. The international community was consciously trying to establish a division of labor in setting up the two agencies....

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What is World Trade Organization (WTO)?
The World Trade Organization (WTO) is the only global international organization dealing with the rules of trade between nations. At its heart are the WTO agreements, negotiated and signed by the bulk of the world’s trading nations and ratified in their parliaments. The goal is to help producers of goods and services, exporters, and importers conduct their business.
History
The WTO's predecessor, the General Agreement on Tariffs and Trade (GATT), was established after World War II in the wake of other new multilateral institutions dedicated to international economic cooperation – notably the Bretton Woods institutions known as the World Bank and the International Monetary Fund. A comparable international institution for trade, named the International Trade Organization was successfully negotiated. The ITO was to be a United Nations specialized agency and would address not only trade barriers but other issues indirectly related to trade, including employment, investment, restrictive business practices, and commodity agreements. But the ITO treaty was not approved by the U.S. and a few other signatories and never went into effect.
In the absence of an international organization for trade, the GATT would over the years "transform itself" into a de facto international organization.
Members
160 members since 26 June 2014, with dates of WTO membership (and...

...Outline the role and functions of the following economic institutions:
The IMF
World Bank
The WTO
Discuss the criticisms/ complaints that have been made against each of these institutions.
How can the above institutions assist in the process of economic development of Jamaica?
Document Submission- Due date: October 12, 2014
The IMF
The International Monetary Function is provide short terms credit to member countries for meeting temporary difficulties due to adverse balance of payments, reconciling conflicting claims of member countries, provide a reservoir of currencies of member-countries and enabling members to borrow on another's currency, promoting orderly adjustment of exchange rates and to advising member countries on economic, monetary and technical matters. In becoming members of the IMF, countries agree to pursue economic policies that are consistent with the objectives of the IMF. The Articles of Agreement confer on the IMF the legal authority to oversee compliance by members with this obligation, making the IMF “the only organization that has a mandate to examine on a regular basis the economic circumstances of virtually every country in the world.” The IMF provides concessional loans to low-income member countries to help support these countries’ efforts to eradicate poverty. In this venture, the IMF works closely with the World...

...a good measure of success for any nation.
Evaluate the roles of the IMF and of President Museveni in Uganda’s success (failure).
The IMF held the nation to standards and fostered recovery through deregulation, standardization, exchange rates, and privatization. Macroeconomic stability was sorely needed, and the IMF brought this to the table. By setting standards and goals for the nation, the IMF effectively sparked a positive movement for recovery. Although Museveni requested assistance and had the desire to change the economy, it took the leadership of the IMF and the Washington Consensus to provide what was lacking. If not for this, Uganda might not have experienced any recovery at all.
Museveni instituted reform programs aimed at bettering the quality of life. Focusing on infrastructure, health care, equal rights, social programs, and efforts to reduce corruption all gave the people a much needed incentive to invest in their own country. This radical change to how the government supported the nation proved Museveni wanted to ensure the well-being of everyone. These forward thinking actions are what can be attributed to the recovery and deemed a success. Although much still needs to happen, the leadership of Museveni and the guidance of the IMF at least lay a foundation for a successful recovery.
2. Critique of the IMF, World Bank, UN and WTO...

...﻿The World Trade Organization (WTO)
The World Trade Organization (WTO) is the successor to the General Agreement on Tariffs and Trade (GATT) and the major multilateral forum through which governments can come to agreements and can settle disputes regarding trade. It is the only global international organization dealing with the rules of trade between nations. It establishes rules for international trade through consensus among its member states. It also resolves disputes between the members, which are all signatories to its set of trade agreements. The goal of this organization is to help producers of goods and services, exporters, and importers to conduct their business.
Origin of World Trade Organization (WTO)
The World Trade Organization (WTO) came into existence on January 1, 1995. It’s headquarter is in Geneva, Switzerland. During the time of establishment there were 125 member nations in of this organization. But at present its member nations are 160 with 30 observer countries on 26 June 2014 (with dates of membership). (source : www.wto.org)
Before the establishment of World Trade Organization (WTO), 23 countries formed General Agreement on Tariffs and Trade (GATT) in 1947 under the auspices of the united nation to abolish quotas and reduce tariffs. And by the passage of time World Trade Organization (WTO) replaced General Agreement on Tariffs and Trade (GATT) in 1995....

...countries, member states should remain the driving force in the G20 process.
IMF
The organization deals with macroeconomic issues, such as international monetary policy and exchange rate stability, and helps member states facing difficulties in their balance of payments. However, this is not done on equal terms: Decisions are made on the basis of a quota system in which larger economies have a greater financial obligation but also more voting power than smaller states. As a result, the United States and the EU member states are seen as too dominant, while developing nations and emerging economies, on the other hand, have too little influence. This unequal influence is manifest in several aspects of the institutional framework:
1. voting power or quotas,
2. the composition of the Executive Board, and
3. the appointment of IMF leadership.
Unlike the United Nations or the WTO, where every member has one vote, the weighting of votes in the IMF is designed to reflect each member’s relative strength in the global economy. Emerging
market economies such as China, India, or Brazil were particularly underrepresented relative to their economic output. Moreover, the calculation of the quota formula was seen as unbalanced and non-transparent, and its application was inconsistent. Ratified amendments to a more transparent, clear quota system formula along with other member states. The IMF is...

...management for the success of any project.
In breaking down a project into activities, a project manager needs to firstly define the activity or activities. This process involves identifying the specific actions to be performed to produce the project deliverable. It can be argued that this stage or process is critical because every work to follow thereafter follows this process. For instance if it is building a shopping complex like Joina City as the project, the specific actions to be performed had to be identified and clear like applying for the stand, architectural drawings and plans, digging the foundation, erecting the slab inter alia. All of the activities will be defined so that the project objectives will be met as defined in the WBS (work breakdown structure).
Activities need to be the sequenced. Sequencing activities gives logic the project like what needs to be done one after the other in chronology and in logic. If the project is the rehabilitation of a road for example the Plumtree-Mutare highway by Group Five and ZINARA, pouring of bitumen and concrete comes before road markings. If it is the construction of a building, digging the foundation comes before pouring the slab. Therefore a project manager need to define and sequence his or her activities sot that activities follows logic and hence the success of the project.
After these activities have been sequenced, this will then help in estimating the activity resources. Resources need to be...